Segall Bryant & Hamill LLC Decreases Stock Position in Range Resources Co. (NYSE:RRC)

Segall Bryant & Hamill LLC lessened its holdings in shares of Range Resources Co. (NYSE:RRC) by 13.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 834,211 shares of the oil and gas exploration company’s stock after selling 129,591 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Range Resources were worth $30,015,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Congress Wealth Management LLC DE grew its position in Range Resources by 7.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 79,037 shares of the oil and gas exploration company’s stock valued at $2,844,000 after acquiring an additional 5,160 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Range Resources by 23.2% in the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock worth $4,095,000 after purchasing an additional 21,440 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Range Resources in the 4th quarter worth about $1,795,000. American Century Companies Inc. lifted its holdings in Range Resources by 7.9% during the 4th quarter. American Century Companies Inc. now owns 361,966 shares of the oil and gas exploration company’s stock valued at $13,024,000 after buying an additional 26,526 shares in the last quarter. Finally, Xponance Inc. boosted its position in Range Resources by 4.6% in the 4th quarter. Xponance Inc. now owns 27,186 shares of the oil and gas exploration company’s stock valued at $978,000 after buying an additional 1,202 shares during the period. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

RRC has been the topic of a number of research reports. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a research report on Friday, January 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a research report on Tuesday, January 14th. StockNews.com downgraded Range Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Stephens lifted their price objective on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, January 3rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.95.

Range Resources Stock Performance

RRC opened at $40.64 on Tuesday. The company has a market cap of $9.81 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $38.60 and its 200-day moving average price is $34.90. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the prior year, the company earned $0.63 earnings per share. As a group, equities analysts anticipate that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.